Sayaji Hotels (Indore) Ltd

Director resignation

• Mohammed Yusuf Abdul Razak Dhanani, a Non-Executive Non-Independent Director, resigned.
• Effective from close of business on 29 September 2026.
• Reason: due to other occupation.

Sayaji Hotels (Indore) Limited: Trading Window closed from Thursday, 1 October 2026 till the completion of 48 hours after declaration of the unaudited financial results for the quarter ended 30 September 2026.

Resolutions and key terms

• Item 1 (Special): Borrowing limit up to Rs 500 crore.
• Item 2 (Ordinary): Material related-party transactions up to Rs 50 crore per party.
• Timeline: e-voting 21 Sep 2026 to 21 Oct 2026; cut-off 16 Sep 2026; outcomes pending.
• Related parties include Sayaji Hotels Limited, Malwa Hospitality Private Limited, Sana Hospitality Services.

Governance and shareholder impact

• No share capital change anticipated from these resolutions.
• RPT terms: unsecured borrowings, 12-month tenor, 18% interest, up to Rs 50 crore per transaction.
• Aggregate related-party borrowing under Section 180 remains within approved limits.

Resignation of Company Secretary

• Aaditya Kasera resigned from the post of Company Secretary.

Appointment of CS & Compliance Officer

• Prakhar Bhatore appointed as Company Secretary and Compliance Officer with effect from 1 October 2026.
• Appointment approved in board meeting held on 16 September 2026.
• Prakhar Bhatore is an Associate Member of ICSI, Membership No. A79062.
• Reason for appointment: to replace the resigned Aaditya Kasera.
• Disclosures: no relationship with other directors.
• Terms and conditions are in the appointment letter.

Key Decisions

• Appointment of Mr. Prakhar Bhatore as Company Secretary and Compliance Officer.
• Enhancement in the Company's borrowing limits.
• Material related party transactions with related parties require shareholder approval.
• Draft Notice of Postal Ballot approved.
• Scrutinizer for e-voting in Postal Ballot appointed; fees approved.
• Cut-off date set for postal ballot notice and e-voting.

Other Items

• Other Businesses discussed.

Regulatory action details

• Authority: Office of the Collector (Excise), District Indore, Madhya Pradesh.
• Action: Suspension of Hotel Bar (FL-3) Licence for the hotel unit.
• Duration: Until FSSAI suspension revocation or March 31, 2027, whichever earlier.
• Trigger: Based on FSSAI order dated 21 August 2026.
• HC Stay: High Court stay on FSSAI order; company apprised Excise Department.
• Financial impact: Not determinable at present; material developments will be intimated.

FSSAI inspection and court stay

• FSSAI conducted inspection at Sayaji Hotel Indore on 20 August 2026.
• Partial suspension of the FSSAI license was ordered on 21 August 2026.
• A writ petition was filed with the Madhya Pradesh High Court on 22 August 2026.
• The High Court granted a stay on the impugned FSSAI order on 22 August 2026.
• No material operational or financial impact is currently reported; monitoring ongoing.

Regulatory action

• FSSAI ordered partial suspension of Sayaji Hotel-Indore unit's license.
• Order issued on 21 August 2026 after inspection on 20 August 2026.
• Company reviewing the order and will take steps under applicable law.
• Impact on operations or finances is not yet ascertainable.

Director Appointment

• Appointment of Mohammed Yusuf Abdul Razak Dhanani as Non-Exec Non-Independent Director, effective 28 July 2026.
• Related to Raoof Razak Dhanani, Managing Director.
• Profile: Industrialist with interests across fertilizer, hospitality, dining, sweets and realty.